Let me tell you, we contract players, do you encounter this kind of frustrating thing every day like I used to? As soon as you open a long position, the market smashes down "swish"; you grit your teeth and cut your stop loss, and then it pulls up in a straight line, feeling like the K-line has eyes and is specially targeting your few orders; sometimes you clearly see the direction correctly, but in the end you still lose almost all your pants - doesn't it make you angry?
Stop cursing yourself for being unlucky. It's not that you're unlucky, it's that you haven't seen through what this contract is all about.
This isn't really "buying and selling coins" at all. Frankly, you're betting against the exchange and other players. Every cent you earn is someone else's loss, and the money you lose has already been factored into their pockets. The exchange is the house, and we ordinary players are just gamblers. Rushing in without understanding the rules is basically just giving money away.
The stupidest pit I stepped into back then was not taking the funding rate seriously. At that time, I saw that the rate was only a few tenths, and I felt that this small amount of money didn't matter. As a result, I held a position for three days, and the positive rate was stacked for three rounds, and this thing alone ate up more than a dozen points of profit. Later, I stupidly rushed in with a full position, and the market immediately reversed, without even giving me a chance to struggle, and directly rubbed me on the ground - now thinking about it, when the positive rate keeps rising, isn't it clearly saying "come and give away heads"? But I didn't understand that at the time!
And leverage, don't think that 10x leverage can amplify your profits by 10 times. It actually doubles the risk and handling fees! You pay a handling fee once when you open an order, and another when you close it, plus the funding rate, spread, and the invisible and intangible forced liquidation price. With this set of combos from the exchange, the money in your account will be reduced unconsciously. I once saw a brother who opened 20x leverage and was elated after making two profits. As a result, a small callback, plus handling fees and losses, directly wiped out his account, leaving nothing left.
More people misunderstand liquidation. Some people always think that "10x leverage can withstand 10% volatility," but you forgot that the forced liquidation price has already factored in the handling fees and spreads! The market doesn't even need to move a full 10%, maybe just 5% or 6%, and your position will be forcibly liquidated, without even giving you time to react. I stumbled the first time I was liquidated. At that time, I thought I could withstand it, but watching the screen suddenly turn red, refreshing my account, and going straight to zero - I was stunned at that time and didn't recover for a long time.
The most pitfall is "rolling positions". Many brothers made a little profit on the previous order, so they put all their money into the next order, thinking of rolling the snowball bigger and bigger. I did this back then, and made a profit on three consecutive orders, adding all the money I earned to it. As a result, with a small turn in the market, not only did I spit out all the money I earned before, but I even lost half of my principal - that night I stared at the K-line all night and didn't sleep, and I realized that rolling positions must leave a way out: take half of the money you earn first, and then go to bet the rest. Even if you lose, at least the principal is still there, and you don't have to start from scratch.
So stop complaining about "being pinpointed for bombing." The market is never targeting you. It's that you don't understand the rules and are standing on the opposite side of this game.
I'm not a guru, and I don't dare say I can guarantee you a steady profit. It's just that I entered the market early, and I've stumbled into more pits than I've earned money. I'm just lucky to be alive, so I've figured out these principles.
Bro, if you want to survive in the contract game, stop dreaming of getting rich overnight. Chew on the rules of the game first, and don't use real money to buy lessons anymore. I understand the feeling of losing so much that you can't sleep and staring blankly at your account too well. It's really enough.
In the end, I still say: A single tree cannot make a forest, and a lone sail cannot travel far. Playing contracts alone makes it too easy to get stuck in a rut, and there's no one to help you out when you fall into a pit. Having a reliable team to watch the market and discuss strategies can at least save you a lot of detours. You can go steady to go far. I've been in this business for so many years and I'm still here. If you can't figure something out, or if you want to complain about falling into a pit, feel free to talk to me.
